Are you contemplating buying your home in Fort Worth? RE/MAX Heritage can help.
With a little planning ahead of time, purchasing a home isn't too confusing, but the event can be stressful for many people. I like to furnish buyers with an overview of the entire deal so they know exactly what to expect. Below are my nine steps to purchasing a home.
When you're ready to get started, simply contact me here or send me e-mail
. I'm glad to answer questions you have regarding this information.
Step 1 – Get ready to purchase a home
Before you begin your home search, there are many things you should take into account. You'll probably want to form a check list of features you need to have, get a feel for what school districts you'd like to live in, and begin planning around your budget. Ensuring your mortgage payment is no more than a third of your net monthly income is a good principle to follow.
Step 2 – Communicate with a real estate agent in Fort Worth
This is where I can help. I'd be more than happy to book a time to meet with you and communicate with you about your real estate needs and get an idea of your future plans. We'll talk about neighborhoods, schools in the Fort Worth area, the mortgage industry, and any other economic factors that might affect your purchase today or in the future.
I can also help you start the loan process. There are some excellent mortgage professionals in Fort Worth, and I partner with a lot of them, so you're in great hands. They will help you decide which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin house hunting
Following our initial meeting, I'll begin looking for available houses on the market that are a great fit for you. I'll research most of the homes and remove the bad ones, and then we'll book appointments to tour the homes whenever it's most convenient for you.
As we tour houses, I'll show you the good features, as well as negative ones. I'll even ask you to point out what things you like and don't like. Frequently, buyers revise their must-have list as we tour houses and some items become more essential than others. If such is the case, I'll go back through all the listings again and trim it down to the house of your dreams.
Step 4 – Get a feel for the housing market
Your agent's awareness of the Fort Worth home market is an essential component in your home search. And I assure you I'm familiar with all the schools and neighborhoods, and I can alert you to certain neighborhoods are "hot" and warrant prompt action and the others that are "cool" and allow for careful examination.
When we tour houses, I'll be sure to tell you if the list price has room for negotiation or if I believe the house is "priced to sell." When working with an agent, be mindful and make sure you ask a lot of questions. Every real estate agent will tell you they truly understand the market. If things don't add up, contact me at 817-999-2211 or e-mail me at firstname.lastname@example.org, and I'll be happy to answer any questions you have. My understanding of the market will keep you a step above the rest through the entire process.
Step 5 – Find the home you've been looking for
I'm confident we'll find the home of your dreams in Fort Worth, and when we do, I'll meticulously develop your home purchase offer. The offer will be written keeping your needs in mind. Whenever necessary, I never forget to make contracts contingent upon items like your ability to secure financing and the results of the home inspection.
Upon submitting your purchase offer, you'll need to submit "earnest money." This is a cash deposit given to the seller to secure an offer to buy the property and is usually applied to the closing costs. If the offer is accepted by the seller, we should close on the home within 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts don't close on the beginning offer, and it's widely common to receive a counter offer. Don't let it discourage you. We'll figure out whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the contract depends on market conditions. In addition, we'll work within your financing limits. And when it's all said and done, we'll create a contract that works well for you.
Step 7 – Secure a loan
Once we sign the final contract, you'll start working with your mortgage lender to close the loan. If you've been pre-qualified, this shouldn't take much time at all, but you should to stay in close contact with your mortgage lender. And I'll sort out all the property information your lender needs to close the loan.>
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) outlining closing costs from your mortgage lender within three days of taking your application. This estimate rests on the loan amount, and RESPA requirements require that it has to include all closing costs and be within a tight range of accuracy. I'll go over the estimate and let you know if it all looks good.
Then we'll close on your house. This will most often take place at a title company or escrow office and will most likely be a smooth and calm occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, make sure you call me at 817-999-2211 or send me an e-mail.